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Last Updated: Thursday, 8 January, 2004, 17:58 GMT
Strong mobile demand lifts Nokia
Nokia handsets
Nokia's figures beat all forecasts
Shares in Nokia, the world's largest mobile phone maker, have jumped after the firm delighted investors with an upbeat trading statement.

The Finnish company said both its sales and profits for the fourth quarter would be "significantly higher" than it had previously estimated.

Thanks to strong demand the firm said mobile phone sales had increased by 4% to 7bn euros ($8.9bn; 4.9bn).

Analysts had expected sales to be flat or only slightly higher.

Shares in Nokia closed up 13% on the Helsinki stock exchange.

Ringing endorsement

Jorma Ollila, the company's chairman and chief executive, said the sales upturn had exceeded Nokia's own projections.

He thanked the company's newest range of handsets, and ongoing investments made by the mobile phone network providers.

"The results were impacted by stronger than expected year-end operator investments and product mix, which resulted in much stronger than expected sales, and stronger than expected operating profits," said Mr Ollila.

The news from Nokia lifted other mobile firms, with Swedish rival Ericsson seeing its shares rise 13%.

Siemens gains sales from Nokia
04 Dec 03  |  Business
Nokia upbeat on mobile sales
16 Oct 03  |  Business
Nokia profits sharply down
17 Jul 03  |  Business

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